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Banks Loans adjustments after rates drop
Rank: New-farer Joined: 2/5/2010 Posts: 54 Location: USA
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How do banks adjust loan installments after rates drop?
Example:
In June 2017 rates were 14% (CBR*10.00% + variable margin of 4%).
In June 2020 rates were 11% (CBR*7.00% + variable margin of 4%).
If someone was paying an installment of 100K/month in 2017, does the bank adjust (reduce)installment in 2020, or installments are flat?
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Rank: Veteran Joined: 5/18/2008 Posts: 796
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Each bank chooses what to do.. some write and ask you to choose either to reduce your installments or reduce your payment period.
However, wasn’t the CBR + 4 law quashed by parliament? The banks no longer have to enforce it.
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Banks Loans adjustments after rates drop
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